No matter where I meet women who desire to start a business whether they want to create an exit strategy from their 9 to 5 or they have ideas, passions, this brilliance they are ready to cash in on, the very first thing they share with me is all about how they want to be as an entrepreneur just like so and so and so they are ready to quit their day job. And as I coach, the first thing that I share with them is if you want to be successful on other side of your 9 to 5, you have to start with a plan to bankroll your brilliance and activate it before you ever give your job your two-week’s notice.
Matter of fact, this is where I see so many entrepreneurs, coaches, consultants etc… fail. All because they failed to plan. So what is your plan? What is the destination you must reach for your business to be successful? In what way will you cash in on your genius? How can you ensure that you get there? The answer is simple = By mapping out a pathway to profit. How you start is as Steven Covey would say; “begin with the end in mind” by asking yourself what is the destination you wish to reach in your business? That when you reach it, you will deem that successful? Is it a dollar amount? A number of clients or customers? Once you know the end you want to reach, you can then answer the following question which will help you create your pathway to profit:
- Who Are You? How are you the answer to someone’s need in the marketplace? How do you want your ideal clients to view your business as important to meeting their needs. Knowing this informs how you proceed with every aspect of your business.
- What Do You Offer? It’s not just about having a service or a product, but what should be apparent is what solutions are you providing? Is it freedom? Is it time? Is it something else? If you can answer that, you’ll be able to move your business forward faster. And if you can provide customers with more than one way to say yes to you = multiple price points of products, you are well on your way toward being the answer!
- Who Is your Ideal Customer? Customer identification is an important part of owning and running a successful business. Keep in mind that you don’t serve everyone! That’s just not possible. And once you determine your niche, it doesn’t end there, because you will need to continue to study them over time. Try creating a customer avatar so that you can look at it and know exactly who you’re doing what you do for.
- What Differentiates What You Offer? Of course there is someone else out there doing what you do. But, there is always something that makes yours stand out from anyone else’s. What is that thing? How can you emphasize the thing that makes yours better, different, or special?
- How Will You Deliver It? It’s important to know how you’ll get your program, product or service to your audience. Without knowing that, it will be difficult to succeed in your business. Work out these plans in advance.
- How Many Do You Need to Deliver for Success? One thing many business owners forget to do is figure out how many programs or products they need to sell (or hours if you’re in a service business) to break even, and then how many to be successful. When you know this answer, you can break that down to how many of what you need to sell a day, a month or a quarter.
- What Is Your Timeline to Make a Difference & Make Money While You Do It? Once you know all the answers to 1 – 6, it will be easier to determine how long it will take for you to get to your ultimate destination of choice.
Knowing the answers and drilling deep to make sure you have all working well in your business becomes the plan you follow that will allow you to understand every step you need to take to move toward your goal. Ultimately following your plan becomes the blueprint toward creating a successful business year after year. When you answer these questions seriously, you can easily create a workable daily plan of action. Before you know it, you’ll have successfully created your pathway to profit and you’ll know exact when you can tell you boss TODAY is my LAST day!
Nicole Roberts Jones works with women entrepreneurs & corporate executives to Take Your Brilliance to the Bank and create programming around your expertise that generates multiple revenue streams and a greater bandwidth to serve your clients. To learn more and for updates on her programs or services join her mailing list at www.SubscribeToNicole.com